Delaware Investments® Dividend and Income
Fund, Inc. Announces Change to Portfolio Management Team

November 06, 2014 04:31 PM Eastern Time

PHILADELPHIA--(EON: Enhanced Online News)--Today, Delaware Investments Dividend and Income Fund, Inc. (NYSE:DDF)
(the "Fund") announced that the members of the portfolio management team
will consist of Babak Zenouzi, Damon J. Andres, D. Tysen Nutt Jr.,
Anthony A. Lombardi, Robert A. Vogel Jr., Nikhil G. Lalvani, Kristen E.
Bartholdson, Wayne A. Anglace, Roger A. Early, Paul A. Matlack, Craig C.
Dembek, John P. McCarthy, and Christopher M. Testa, effective November
7. Thomas H. Chow will no longer serve as a co-manager of the Fund
effective at the close of business on November 7, 2014.

The Fund is a diversified, closed-end fund. The Fund’s primary
investment objective is to seek high current income; capital
appreciation is a secondary objective. The Fund seeks to achieve its
objectives by investing, under normal circumstances, at least 65% of its
total assets in income-generating equity securities, including
dividend-paying common stocks, convertible securities, preferred stocks,
and other equity-related securities. Up to 35% of the Fund’s total
assets may be invested in nonconvertible debt securities consisting
primarily of high yield, high risk corporate bonds.

The Fund utilizes leveraging techniques in an attempt to obtain higher
return for the Fund. There is no assurance that the Fund will achieve
its investment objectives.

The Fund has implemented a managed distribution policy. Under the
policy, the Fund is managed with a goal of generating as much of the
distribution as possible from net investment income and short-term
capital gains. The balance of the distribution will then come from
long-term capital gains to the extent permitted, and if necessary, a
return of capital.

About Delaware InvestmentsDelaware Investments, a member of
Macquarie Group, is a global asset management firm that offers a wide
variety of equity and fixed income solutions for individual and
institutional investors. Delaware Investments is supported by the
resources of Macquarie Group (ASX: MQG; ADR: MQBKY), a global provider
of asset management, investment, banking, financial and advisory
services. Visit delawareinvestments.com
for more information.

Delaware Investments is the marketing name for Delaware Management
Holdings, Inc. and its subsidiaries. Advisory services provided by
Delaware Management Business Trust, a registered investment advisor.
Macquarie Group refers to Macquarie Group Limited and its subsidiaries
and affiliates worldwide. For more information about Delaware
Investments, visit delawareinvestments.com
or call 800-523-1918.

Investments in the Fund are not and will not be deposits with or
liabilities of Macquarie Bank Limited ABN 46 008 583 542 and its holding
companies, including their subsidiaries or related companies (the
"Macquarie Group"), and are subject to investment risk, including
possible delays in repayment and loss of income and capital invested. No
Macquarie Group company guarantees or will guarantee the performance of
the Fund, the repayment of capital from the Fund, or any particular rate
of return.

Contacts

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